Preliminary October 2021 traffic figures released today by the Association of Asia Pacific Airlines (AAPA) revealed international air passenger demand remained significantly depressed, with the impact from the recent easing of border restrictions yet to be seen.
By contrast, air cargo markets were robust, benefitting from sustained global demand and capacity shortages.
On the other hand, Asia Pacific airlines recorded another month of vigorous growth in international air cargo demand in October, as reflected in the 22.3% year-on-year increase in freight tonne kilometre (FTK) terms.
Offered freight capacity expanded by a significant 20.0% year-on-year, albeit at a relatively slower pace than the growth in demand, leading to an elevated average international freight load factor of 74.2% for the month.
Commenting on the results, Mr. Subhas Menon, AAPA Director General said: “Whilst October continued to be an extremely challenging month for international travel markets, solid orders for consumer goods and industrial components buoyed air cargo demand, especially as retailers sought to increase stock levels ahead of the year-end holiday season and major shopping events. In addition, supply chain congestion at some shipping hubs boosted demand for air shipments.”